Long time readers may recall the many articles we wrote over many years highlighting the madness of California planners and policymakers. We were born and raised in the land of fruits and nuts and lived and worked there for over four decades.
About four years ago, we made our California exodus. At the time, we thought our coverage of the Golden State’s self-destruction would continue. We still have family and friends there who we visit from time to time. But, as we’ve found, without a front row seat to the big show we’re less inclined to gawk at the insanity. Articles on California have diminished to a slow trickle.
Today, however, following a recent conversation with a friend and California resident, we aim our sights at our former home state. Once again, California delivers a rich example of what happens when central planning outweighs economic reality. Here the specific example involves extreme intervention in oil and gas markets.
Policymakers in Sacramento, over many decades, have operated under the assumption that if petroleum production, refining capacity, and fuel consumption were made sufficiently difficult and expensive, the market would rapidly transition to their preferred alternatives. Continue reading
